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Africa Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The Africa mobile money market reached a transaction value of US$ 365.4 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 21% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor. 

Mobile money is a payment type made using mobile phones. It is based on the accounts held by a mobile operator and is accessible from subscribers’ phones. Mobile money offers simple person-to-person transactions rather than complex banking transactions. Africa has the largest mobile money market across the globe with telecom operators embracing innovative practices that allow customers to pay bills and access services including loans, insurance and savings.

Mobile money provides various financial services to people who have limited access to traditional financial institutions especially to women and rural population. Growing mobile money providers in emerging markets such as Africa helps to boost the mobile money transactions in public and private sectors. Also, the high internet penetration rates will raise the mobile money transactions as well. Moreover, the ease of accessibility, 24/7 availability, security, lower transaction costs and user friendliness will accelerate the market growth in the forecast period in the region. Countries such as Kenya and Uganda have over half of the adult population using digital financial services.  Apart from increasing access to financial services, the growing mobile money industry in African region has offered a new career path and additional income opportunities to many small-scale entrepreneurs as mobile banking agents. Further, with the mobile device becoming a regularly used device, mobile money services have prominently transformed the user’s payment and money transfer experiences.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Africa mobile money market, along with forecasts at the regional and country level from 2021-2026. Our report has categorized the market based on technology, business model and transaction type.

Breakup by Technology

  • USSD
  • Mobile Wallets
  • Others

Currently, USSD holds majority of the market share in the African mobile money market.

Breakup by Business Model

  • Mobile Led Model
  • Bank Led Model

Currently, mobile led model holds the largest share in the African mobile money market.

Breakup by Transaction Type

  • Peer to Peer
  • Bill Payments
  • Airtime Top-ups
  • Others

Currently, peer to peer transaction type holds the highest share in the market.

Breakup by Country

  • Tanzania
  • Kenya
  • Uganda
  • Ghana
  • Others

Tanzania currently holds the largest market share.

Competitive Landscape:

The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry. Some of the key players include:

  • MTN
  • Orange
  • M-Pesa
  • Tigo-Pesa
  • Airtel Money
     

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
    Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Billion
Segment Coverage Technology, Business Model, Transaction Type, Country
Countries Covered  Tanzania, Kenya, Uganda, Ghana, Others
Companies Covered MTN, Orange, M-Pesa, Tigo-Pesa and Airtel Money
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 1999
Five User License: US$ 2999
Corporate License: US$ 3999
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Key Questions Answered in This Report:

  • How has the Africa mobile money market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the Africa mobile money industry?
  • What is the breakup of the Africa mobile money market based on the technology?
  • What is the breakup of the Africa mobile money market based on the business model?
  • What is the breakup of the Africa mobile money market based on the transaction type?
  • What is the breakup of the Africa mobile money market based on the country?
  • What are the various stages in the value chain of the Africa mobile money market?
  • What are the key driving factors and challenges in Africa mobile money market?
  • What is the structure of the Africa mobile money market and who are the key players?
  • What is the degree of competition in the Africa mobile money market?

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Africa Mobile Money Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Technology
    5.5    Market Breakup by Business Model
    5.6    Market Breakup by Transaction Type
    5.7    Market Breakup by Region
    5.8    Market Breakup by Country
    5.9    Market Forecast
    5.10    SWOT Analysis
        5.10.1    Overview
        5.10.2    Strengths
        5.10.3    Weaknesses
        5.10.4    Opportunities
        5.10.5    Threats
    5.11    Value Chain Analysis
    5.12    Porters Five Forces Analysis
        5.12.1    Overview
        5.12.2    Bargaining Power of Buyers
        5.12.3    Bargaining Power of Suppliers
        5.12.4    Degree of Competition
        5.12.5    Threat of New Entrants
        5.12.6    Threat of Substitutes
6    Market Breakup by Technology
    6.1    USSD
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Mobile Wallets
        6.2.1    Market Trends
        6.2.2    Market Forecast
    6.3    Others
        6.3.1    Market Trends
        6.3.2    Market Forecast
7    Market Breakup by Business Model
    7.1    Mobile Led Model
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Bank Led Model
        7.2.1    Market Trends
        7.2.2    Market Forecast
8    Market Breakup by Transaction Type
    8.1    Peer to Peer
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Bill Payments
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Airtime Top-ups
        8.3.1    Market Trends
        8.3.2    Market Forecast
    8.4    Others
        8.4.1    Market Trends
        8.4.2    Market Forecast
9    Market Breakup by Country
    9.1    Tanzania
        9.1.1    Market Trends
        9.1.2    Market Forecast
    9.2    Kenya
        9.2.1    Market Trends
        9.2.2    Market Forecast
    9.3    Uganda
        9.3.1    Market Trends
        9.3.2    Market Forecast
    9.4    Ghana
        9.4.1    Market Trends
        9.4.2    Market Forecast
    9.5    Others
        9.5.1    Market Trends
        9.5.2    Market Forecast
10    Regulatory Framework
11    Competitive Landscape

    11.1    Market Structure
    11.2    Key players
    11.3    Profile of key players
        11.3.1    MTN
        11.3.2    Orange
        11.3.3    M-Pesa
        11.3.4    Tigo Pesa
        11.3.5    Airtel Money

List of Figures

Figure 1: Africa: Mobile Money Market: Major Drivers and Challenges
Figure 2: Africa: Mobile Money Market: Transaction Value (in Billion US$), 2015 - 2020
Figure 3: Africa: Mobile Money Market: Breakup by Technology (in %), 2020
Figure 4: Africa: Mobile Money Market: Breakup by Business Model (in %), 2020
Figure 5: Africa: Mobile Money Market: Breakup by Transaction Type (in %), 2020
Figure 6: Africa: Mobile Money Market: Breakup by Region (in %), 2020
Figure 7: Africa: Mobile Money Market: Breakup by Country (in %), 2020
Figure 8: Africa: Mobile Money Market Forecast: Transaction Value (in Billion US$), 2021-2026
Figure 9: Africa: Mobile Money Industry: SWOT Analysis
Figure 10: Africa: Mobile Money Industry: Porter’s Five Forces Analysis
Figure 11: Africa: Mobile Money Market (USSD): Transaction Value (in Billion US$), 2015 & 2020
Figure 12: Africa: Mobile Money Market Forecast (USSD): Transaction Value (in Billion US$), 2021-2026
Figure 13: Africa: Mobile Money Market (Mobile Wallets): Transaction Value (in Billion US$), 2015 & 2020
Figure 14: Africa: Mobile Money Market Forecast (Mobile Wallets): Transaction Value (in Billion US$), 2021-2026
Figure 15: Africa: Mobile Money Market (Others): Transaction Value (in Billion US$), 2015 & 2020
Figure 16: Africa: Mobile Money Market Forecast (Others): Transaction Value (in Billion US$), 2021-2026
Figure 17: Africa: Mobile Money Market (Mobile Led Model): Transaction Value (in Billion US$), 2015 & 2020
Figure 18: Africa: Mobile Money Market Forecast (Mobile Led Model): Transaction Value (in Billion US$), 2021-2026
Figure 19: Africa: Mobile Money Market (Bank Led Model): Transaction Value (in Billion US$), 2015 & 2020
Figure 20: Africa: Mobile Money Market Forecast (Bank Led Model): Transaction Value (in Billion US$), 2021-2026
Figure 21: Africa: Mobile Money Market (Peer to Peer): Transaction Value (in Billion US$), 2015 & 2020
Figure 22: Africa: Mobile Money Market Forecast (Peer to Peer): Transaction Value (in Billion US$), 2021-2026
Figure 23: Africa: Mobile Money Market (Bill Payments): Transaction Value (in Billion US$), 2015 & 2020
Figure 24: Africa: Mobile Money Market Forecast (Bill Payments): Transaction Value (in Billion US$), 2021-2026
Figure 25: Africa: Mobile Money Market (Airtime Top-ups): Transaction Value (in Billion US$), 2015 & 2020
Figure 26: Africa: Mobile Money Market Forecast (Airtime Top-ups): Transaction Value (in Billion US$), 2021-2026
Figure 27: Africa: Mobile Money Market (Others): Transaction Value (in Billion US$), 2015 & 2020
Figure 28: Africa: Mobile Money Market Forecast (Others): Transaction Value (in Billion US$), 2021-2026
Figure 29: Tanzania: Mobile Money Market: Transaction Value (in Billion US$), 2015 & 2020
Figure 30: Tanzania: Mobile Money Market Forecast: Transaction Value (in Billion US$), 2021-2026
Figure 31: Kenya: Mobile Money Market: Transaction Value (in Billion US$), 2015 & 2020
Figure 32: Kenya: Mobile Money Market Forecast: Transaction Value (in Billion US$), 2021-2026
Figure 33: Uganda: Mobile Money Market: Transaction Value (in Billion US$), 2015 & 2020
Figure 34: Uganda: Mobile Money Market Forecast: Transaction Value (in Billion US$), 2021-2026
Figure 35: Ghana: Mobile Money Market: Transaction Value (in Billion US$), 2015 & 2020
Figure 36: Ghana: Mobile Money Market Forecast: Transaction Value (in Billion US$), 2021-2026
Figure 37: Others: Mobile Money Market: Transaction Value (in Billion US$), 2015 & 2020
Figure 38: Others: Mobile Money Market: Transaction Value (in Billion US$), 2021-2026


List of Tables

Table 1: Africa: Mobile Money Market: Key Industry Highlights, 2020 and 2026
Table 2: Africa: Mobile Money Market Forecast: Breakup by Technology (in Billion US$), 2021-2026
Table 3: Africa: Mobile Money Market Forecast: Breakup by Business Model (in Billion US$), 2021-2026
Table 4: Africa: Mobile Money Market Forecast: Breakup by Transaction Type (in Billion US$), 2021-2026
Table 5: Africa: Mobile Money Market Forecast: Breakup by Country (in Billion US$), 2021-2026
Table 6: Africa: Mobile Money Market: Competitive Structure
Table 7: Africa: Mobile Money Market: Key Players

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